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totally have nothing to say about this in the fiscal cliff. right back. you ever notice that some people just have a knack for giving the perfect gift? they put real thought into it. and find just... the right...thing. how do they do that? more saving. more doing. that's the power of the home depot. pick up a ridgid jobmax multi-tool starter kit and get a free head attachment. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked at my options. then i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call now and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it helps pick up some of what medicare doesn't pay. and could save you thousands in out-of-pocket costs. to me, relationships matter. i've been with my doctor for 12 years. now i know i'll be ab
totally have nothing to say about this in the fiscal cliff. right back. you ever notice that some people just have a knack for giving the perfect gift? they put real thought into it. and find just... the right...thing. how do they do that? more saving. more doing. that's the power of the home depot. pick up a ridgid jobmax multi-tool starter kit and get a free head attachment. i've got a nice long life ahead. big plans. so when i found out medicare doesn't pay all my medical expenses, i looked...
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despite some signs of a compromise, the white house says it is ready to go over the fiscal cliff. >>> lighting up legally. this morning a law permitting recreational marijuana use goes into effect in washington state. >>> and royal ruse. australia's shock jocks pose at the duchess of cambridge to the hospital. >> when can you come down to take her? maybe in the morning or something. if that's okay. . this is the cbs morps news for . this is the cbs morps news for december 6, 2012. captioning funded by cbs >>> good morning, everybody. i'm terrell brown. stunning. that's what they here after the obama administration is ready to go over the fiscal cliff if the gop doesn't bid on higher taxes. a poll shows nearly half of those ads say it's time to end talks cuts for the wealthy but keep it in place for americans earning $250,000 or less. 32% say the tax cuts should remain in place for everyone. during a broadcast interview yesterday timothy geithner was asked what if republican don't agree to raising taxes? >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely.
despite some signs of a compromise, the white house says it is ready to go over the fiscal cliff. >>> lighting up legally. this morning a law permitting recreational marijuana use goes into effect in washington state. >>> and royal ruse. australia's shock jocks pose at the duchess of cambridge to the hospital. >> when can you come down to take her? maybe in the morning or something. if that's okay. . this is the cbs morps news for . this is the cbs morps news for...
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the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. it's only 2%. >> i want to bring in "usa today" bureau chief and welcome to both of you. where are we in these negotiations, susan? >> i think the most encouraging thing was they agreed to the to characterize the phone call. the last time around the characterization of the phone call became a controversy in itself. i think it's pretty clear that the white house and republicans think the white house hand on this is strengthening. we see the polls that you mention, pew polls this week say americans trust the president more, assume if a deal is not reached -- trust the white house more, think if a deal isn't reached it, will be the fault of republicans and it is in fact easier for democrats to go over the fiscal cliff than it is for republicans because then all those tax cuts from the republicans are swept away. but it's too early. it's only december 6. we've got until december
the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. it's only 2%. >> i want to bring in "usa today" bureau chief and welcome to both of you. where are we in these negotiations, susan? >> i think the most encouraging thing was they agreed to the to characterize the phone call. the last time around the characterization of the phone call became a controversy in itself. i think...
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maybe they need to show a willingness to go over the so-called fiscal cliff. now, if the president really wants to take the country there, maybe they need to let him go there. here's the bottom line. what are we hearing from the white house? we're hearing the president will not negotiate unless taxes are raised on job creators, and we're hearing that the president now wants to seize control of the debt ceiling from congress. well, that means rather than needing the approval of the house was the senate to raise the nation's spending limit, president barack obama wants to do this all by his lonesome, a blank check. >> if congress in any way suggests that they're going to tie negotiations to debt ceiling votes and take us to the brink of default once again, as part of a budget negotiation which, by the way, we've never done in our history until we did it last year, i will not play that game. > >> sean: in this country historically it's been up to you, the individual and the government, to create a better life for the next generation. that means your kids, that me
maybe they need to show a willingness to go over the so-called fiscal cliff. now, if the president really wants to take the country there, maybe they need to let him go there. here's the bottom line. what are we hearing from the white house? we're hearing the president will not negotiate unless taxes are raised on job creators, and we're hearing that the president now wants to seize control of the debt ceiling from congress. well, that means rather than needing the approval of the house was the...
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cliff. at the home of what the white house called a typical middle class family, mr. obama said he's optimistic that agreement can be reached, but again drew a hard line for republicans in congress. >> everybody's is going to have to share in some sacrifice. but it starts with folks who are in the best position to sacrifice. who are in the best position to step up . just to be clear i'm not going to sign any package that somehow prevents the top rate from going up, the top 2% from going up. >> woodruff: the president phoned house speaker john boehner yesterday, their first direct talk in almost a week. but today white house spokesman jay carney wouldn't share details of the call. >> we believe it's in the interest of achieving an agreement not to do that. >> reporter: treasury secretary timothy geithner said yesterday the white house was absolutely willing to go over the cliff if republicans held firm in their opposition to raising rates on the wealthy. but it was the administration's other
cliff. at the home of what the white house called a typical middle class family, mr. obama said he's optimistic that agreement can be reached, but again drew a hard line for republicans in congress. >> everybody's is going to have to share in some sacrifice. but it starts with folks who are in the best position to sacrifice. who are in the best position to step up . just to be clear i'm not going to sign any package that somehow prevents the top rate from going up, the top 2% from going...
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by telling cnbc the white house is prepared to go off the fiscal cliff, unless the republicans bend on taxes. comment by former democratic presidential candidate howard dean frightened republics that this debate is not just about raising taxes on the rich. >> the truth is, even needs to pay more taxes. not just the rich. that is a good start. we are not getting out of the deficit problem unless we raise taxes across the board and go back to what bill clinton have. >> some liberals pushed the president to raise the debt ceiling himself, claiming he has executive power through the 14th amendment. jay carney reveals today the white house studied that, does not believe the president has the power. that means we are headed for another major showdown with congress over the debt ceilin ceiling. >> bret: more with the panel. ed henry, thank you. republicans are losing one of the most conservative voices on capitol hill. south carolina senator jim demint surprised a lot of people today when he announced he is leaving the senate. but staying in washington to run the conservative heritage foundat
by telling cnbc the white house is prepared to go off the fiscal cliff, unless the republicans bend on taxes. comment by former democratic presidential candidate howard dean frightened republics that this debate is not just about raising taxes on the rich. >> the truth is, even needs to pay more taxes. not just the rich. that is a good start. we are not getting out of the deficit problem unless we raise taxes across the board and go back to what bill clinton have. >> some liberals...
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up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's iefonomist, and deuche bank senior economist here next. stay with us. with the spark cash card from capital one, olaf gets great rewas for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark rd! [ pop! ] [ garth ] why settleor less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? we don't let frequent heartburn come between us and what we love. so if you're onef them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur lou: you know, it may surprise some that december is historically the strongest month for investors. the s&00 posting gains in december,
up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's iefonomist, and deuche bank senior economist here next. stay with us. with the spark cash card from capital one, olaf gets great rewas for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark rd! [ pop! ] [ garth ] why settleor less? great businesses deserve great rewards!...
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up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less than optimistic? joining me is john, and carl, senior economist for deutsche bank. gentlemen, thank you for being here. start with the treasury secretary. the man in charge of our treasury is out telling everyone that the administration he works for is a part of is perfectly prepared to go over the fiscal cliff in order to raise a tax rate to 39.6%. does that make any sense to you? are you shocked, surprised? >> well, i guess i'm not surprised given we're in the early stages of the discussion, but for the economists and forecasters out there calling this is the fiscal slope, not a cliff or believe it
up next, tax hikes, overspending, uncertainty, fiscal cliff threatening the economy, but maybe not? we take it all up with moody's chief economist, and deutsche bank senior economist here next. stay with us. lou: you know, it may surprise some that december is historically the strongest month for investors. the s&p500 posting gains in december, 82% of the time since 1990. it's that 18% that should trouble folks, but are concerns with the fiscal cliff giving investors a reason to be less...
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got another 24 hours closer to the edge of the fiscal cliff which is why we have our eyes on the white house press briefing. got a live picture ready for you so we don't miss anything. for what it's worth, president obama and house speaker boehner are talking. they had a nice telephone conversation. that's terrific. the first time in a week but apparently that's the headline. that's the editorial body. not much came out of it that we know of. sources say no real breakthrough. no formal negotiations. sessions are not scheduled. no back channel discussions taking place that anybody knows about at this time and as we wait for the white house briefing to begin, let's bring in wolf blitzer on this topic. there are a couple of polls that are very telling about how americans feel about congress and the president are behaving when it comes to the fiscal cliff. let me read some of these numbers for you. should obama compromise to get things done. 72% say yes. 22% say no. should the gop compromise to get things done. and take a look. 72% say yes. my question for you, wolf, i'm not sure you'll ha
got another 24 hours closer to the edge of the fiscal cliff which is why we have our eyes on the white house press briefing. got a live picture ready for you so we don't miss anything. for what it's worth, president obama and house speaker boehner are talking. they had a nice telephone conversation. that's terrific. the first time in a week but apparently that's the headline. that's the editorial body. not much came out of it that we know of. sources say no real breakthrough. no formal...
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he was asked flat out is the white house ready to go over the fiscal cliff and boom he says, absolutely, as if that is a good thing. i mean there are defense contractors who are going to be laying off workers, there are all kinds of negative ramifications to all of this. but the white house apparently is ready to take the jump. >> well, they are certainly ready to say it. the republicans have a weaker hand than i thought they would originally have about a couple months ago, but the idea that president obama wants to start his second term by plunging the country into a recession, a huge sell off in the stock market, and by being perceived as generally sort of willing to play chicken with the economy doesn't sound like a brilliant political move to me. jon: you think that's all talk? >> i think it's a game of chicken, i really do. i think that the republicans would probably get a lot of blame in the beginning, and that's maybe what they are thinking of and they are trying to scare the republicans, but over the long term there is just no way this administration wants to go overt fisca over
he was asked flat out is the white house ready to go over the fiscal cliff and boom he says, absolutely, as if that is a good thing. i mean there are defense contractors who are going to be laying off workers, there are all kinds of negative ramifications to all of this. but the white house apparently is ready to take the jump. >> well, they are certainly ready to say it. the republicans have a weaker hand than i thought they would originally have about a couple months ago, but the idea...
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ready for the fiscal cliff, possible layoffs, other issues, that shows we are getting closer and closer to this really becoming a reality, harris. >> ed henry, outside the white house. ed, thank you very much. for the first time, we are hearing something very tough to listen to. it is the desperate 911 call from javon belcher's own mother. the kansas city chief's nfl player who shot his girlfriend. surveillance video showed a mother allegedly sneaking her little daughter out of the hospital. doctors had warned the young leukemia patient had something in her heart that would kill her within days if they didn't deal with it. now word of a major development. what her father reportedly says about where that child is right now. stay close. same item at walmart f less? gee okay. fijit friends. fifteen bucks on rollback. wow! that's a savings of over 29 bucks! twenty-nine bucks!!?? and they're powered by friendship. see for yourself if you could save on brands you want. walmart. can i still ship a gift in time r christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announ
ready for the fiscal cliff, possible layoffs, other issues, that shows we are getting closer and closer to this really becoming a reality, harris. >> ed henry, outside the white house. ed, thank you very much. for the first time, we are hearing something very tough to listen to. it is the desperate 911 call from javon belcher's own mother. the kansas city chief's nfl player who shot his girlfriend. surveillance video showed a mother allegedly sneaking her little daughter out of the...
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off the fiscal cliff? >> officials hearsay there is still time to reach an agreement. they say there has been progress. republicans are now a incrows tn though they still don't want to raise tax rates. the folks here shrug off the fact there hasn't been a meeting of the president in a couple of weeks. and they suggest there won't need to be a meeting until republicans are ready to give in. >> it is our view that simply having conversations c congressional leaders will not produce a deal. what will produce a deal is an acknowledgment by republicans, republican leaders that rates on the top two percent, the wealthiest americans have to rise. there is no deal without that acknowledgment. >> the treasury secretary gite neither says the -- tab eitner says they are ready to go over the cliff. if republicans won't let the tax cuts expire, they say it is not a threat. shepherd? >> it is easy to say why they would be making those statements when there was a recent survey that showed 53% of people said if we do go o
off the fiscal cliff? >> officials hearsay there is still time to reach an agreement. they say there has been progress. republicans are now a incrows tn though they still don't want to raise tax rates. the folks here shrug off the fact there hasn't been a meeting of the president in a couple of weeks. and they suggest there won't need to be a meeting until republicans are ready to give in. >> it is our view that simply having conversations c congressional leaders will not produce a...
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fiscal cliff, 26 days away. christine romans explains how going over the cliff could affect you and your family. >> reporter: brooke, here's what the sequester could mean for domestic programs. fewer women and children with assistance and child care aid. cuts to education nearly 100,000 head start spots at risk. more than 25,000 teachers and teachers aids could lose their jobs and science and public research grants could be cut including in to cancer and childhood diseases. fewer americans could receive drug abuse treatment and $700 million slashed from the epa budget. cutting back of food inspection. disaster relief, omb says, quote, the federal emergency management administration's ability to respond would be undermined. and finally, from border patrol to hiring new fbi agents, correction officers, federal prosecutors, all could be scaled back. now, all of these cuts, brooke, don't happen exactly at 12:01 a.m. on january 2nd. they happen over the course of a year. but agencies are preparing for an impasse in w
fiscal cliff, 26 days away. christine romans explains how going over the cliff could affect you and your family. >> reporter: brooke, here's what the sequester could mean for domestic programs. fewer women and children with assistance and child care aid. cuts to education nearly 100,000 head start spots at risk. more than 25,000 teachers and teachers aids could lose their jobs and science and public research grants could be cut including in to cancer and childhood diseases. fewer...
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fiscal cliff scenario to play out, wolf. but as you point out when we look back over the last three years, we've had these kinds of negotiations, it at times appears very optimistic that things will get done, then both sides very far apart. but in the final hours they get a deal done. that's the hope that despite the rhetoric what you're hearing now that this deal will happen before the end of the year. >> all right. we can only hope that there will be a compromise, this fiscal cliff will be avoided. dan lothian, thank you. not everyone seems to think it would be such a bad idea to actually go over the fiscal cliff. just one day after the treasury secretary said the white house is absolutely prepared to do just that under certain circumstances a leading economist is echoing those sentiments. >> i would not come up with a deal unless it's a really good deal before the end of the year. i would take it into next year if that means you're going to get a better deal. >> let's bring in our senior congressional correspondent dana b
fiscal cliff scenario to play out, wolf. but as you point out when we look back over the last three years, we've had these kinds of negotiations, it at times appears very optimistic that things will get done, then both sides very far apart. but in the final hours they get a deal done. that's the hope that despite the rhetoric what you're hearing now that this deal will happen before the end of the year. >> all right. we can only hope that there will be a compromise, this fiscal cliff will...
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in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need in case of possible plans in case of those automatic spending cuts that could go in place in just 27 days. >> peter alexander at the white house for us tonight. thank you. >>> and up next, the loss today of a legend in american music. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years old. time went by very fast. it goes by too, too fast. ♪ but i would do it again in a heartbeat. [ laughs ] ♪ ♪ i took my son fishing every year. we had a great spot, not easy to find, but worth it. but with copd making it hard to breathe, i thought those days might be over. so my doctor prescribed symbicort. it helps significantly improve my lung function starting within five minutes. symbicort doesn't replace a rescue inhaler for sudden symptoms. with symbicort, today i'm breathing better. and that means...fish on! symbicort is for copd including chronic bronchitis and emphysema. it should not be taken more tha
in case the country does go over that fiscal cliff, budget officials have asked all federal agencies for information that they need in case of possible plans in case of those automatic spending cuts that could go in place in just 27 days. >> peter alexander at the white house for us tonight. thank you. >>> and up next, the loss today of a legend in american music. i put away money. i was 21, so i said, "hmm, i want to retire at 55." and before you know it, i'm 58 years...
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tim geithner tells cnbc the white house is ready to over the cliff if republicans don't budge on taxes. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. >> alan simpson co-chair of the president's debt commission, says both sides are making a high stakes gamble. >> when you have leaders of parties and people of the administration saying, i think it will be to the advantage of the democrats to go off the cliff, i think it will be advantage to the republicans to go off the cliff, or the president to go off the cliff, that's like betting your country. there's stupidity involved in that. >>> syria on the bring. secretary of state hillary clinton holds emergency talks with russia as u.s. officials confirm reports that the syrian military is prepared to launch chemical weapons against its own people. >> we've made it very clear what our position is with respect to chemical weapons and i think we will discuss that and many other aspects. >> the whole world is watching. the whole world is watching very closely. and the president of the united states has made ve
tim geithner tells cnbc the white house is ready to over the cliff if republicans don't budge on taxes. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. >> alan simpson co-chair of the president's debt commission, says both sides are making a high stakes gamble. >> when you have leaders of parties and people of the administration saying, i think it will be to the advantage of the democrats to go off the cliff, i think it will be advantage...
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it is important to avoid the fiscal cliff and to do it the right way. >> reporter: doing it the right with a depends on who you are speaking to. i asked chris van hollen what happens if the white house and republicans in congress cannot reach a deal by january 1st. >> it doesn't necessarily mean january 2nd the world falls apart. but what it does mean is, if you go into january, deeply into january without having resolved these issues, taxes will go up across the board on everybody. that is a big tax increase. >> reporter: and deep across the board spending cuts in defense and other areas of the federal government. >> the plans that the white house has talked about thus far, they couldn't pass either house of the congress. >> reporter: president obama says he will not sign a bill without a tax increase on incomes over $250,000. he met with a room full of ceos in washington today. >> i know that many of you have come down here to try to see, there a way we with break through the logjam and go ahead and get things done. and i'm here to tell you that nobody wants to get this done more th
it is important to avoid the fiscal cliff and to do it the right way. >> reporter: doing it the right with a depends on who you are speaking to. i asked chris van hollen what happens if the white house and republicans in congress cannot reach a deal by january 1st. >> it doesn't necessarily mean january 2nd the world falls apart. but what it does mean is, if you go into january, deeply into january without having resolved these issues, taxes will go up across the board on everybody....
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on revenue band tax rates on upper earners the white house is ready to go right over the cliff. >> is the administration prepared to go over the fiscal cliff? >>> oo absolutely. >> the president had support on raising tax rates on upper income earners. republicans have support the putting more emphasis on government spending rather than just simply raising taxes. the republican leaders in congress meantime who also met with business leaders yesterday said they have already offered to raise taxes by cutting deductions for upper earners an the president has yet to counter their proposal. >> i will be ready to sit down with the president to get serious about the problem. >> it is possible the white house could be bluffing the administration ordered the pentagon to begin considering the big spending cuts that would hit military spending if in fact we goefr the cliff. >> back to you. >> doug luzader, thank you. >>> we heard what the lawmakers are saying but what about the taxpayers they represent? it's their bank accounts that would be impacted. >> so i went to times square in new york to
on revenue band tax rates on upper earners the white house is ready to go right over the cliff. >> is the administration prepared to go over the fiscal cliff? >>> oo absolutely. >> the president had support on raising tax rates on upper income earners. republicans have support the putting more emphasis on government spending rather than just simply raising taxes. the republican leaders in congress meantime who also met with business leaders yesterday said they have already...
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. >> treasury secretary timothy geithner said the white house is absolutely willing to go over the fiscal cliff if the gop doesn't agree to raise taxes on the top 2% of earners. while a handful of republicans appears willing to concede that point, the party's position seems unchangeable. >> speaker boehner took a position i think the day after the campaign that says we're willing to bring in revenue, but we're not willing to increase rates. >> the president says if republicans will concede the point, they could reach a deal within a week. and the presidential business leaders, if republicans drop that opposition, they could agree -- they could make a deal within a week, as we said, but, you know, as we said, the terrell?continues. >> susan, thank you so much. >>> to syria now. cbs has learned that the u.s. has discovered they have prepared chemical weapons that could potentially beused against the opposition. right now there are no indications that any of those chemicals could be fixed on military aircraft. meanwhile the obama administration says essentially countries in the middle east h
. >> treasury secretary timothy geithner said the white house is absolutely willing to go over the fiscal cliff if the gop doesn't agree to raise taxes on the top 2% of earners. while a handful of republicans appears willing to concede that point, the party's position seems unchangeable. >> speaker boehner took a position i think the day after the campaign that says we're willing to bring in revenue, but we're not willing to increase rates. >> the president says if republicans...
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in firms of the discussions of the fiscal cliff, the white house is focused solely on cuts for top earners. almost no discussion of unemployment insurance and payroll taxes, the farm bill which would include the price of milk and food stamps on a broader level. at what point do these become sticking points in the negotiation? >> reporter: they're going to become sticking points and probably before the end of the year, because remember there are a couple of things going on. if the president gets a deal on rates, republicans are going to be less inclined to go along with some of the other things, like extended unemployment insurance and some sort of extension perhaps in different form of the payroll tax cut. but also to avoid the sequestration, the congress has got to find some way to have cuts in the interim. if they kick the can down the road they have to have month by month cuts. the farm bill, talking $10 billion a month to in effect buy off the sequestration while they negotiate, the farm bill if you take the senate bill, $23 billion in subsidies cut overall, $4 billion as mentioned fro
in firms of the discussions of the fiscal cliff, the white house is focused solely on cuts for top earners. almost no discussion of unemployment insurance and payroll taxes, the farm bill which would include the price of milk and food stamps on a broader level. at what point do these become sticking points in the negotiation? >> reporter: they're going to become sticking points and probably before the end of the year, because remember there are a couple of things going on. if the...
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as this fiscal cliff negotiations continues, they think boehner is trying to warn conservatives about going against any kind of deal he cuts with the white house. so as a warning, boehner is saying i'm going to boot you off your committee if you go against something i do. a lot of conservatives don't like it when he plays hardball. they're going to continue to fight back just like senator demint is doing right now. >> but he's also going to lose some votes on the moderate side. a couple dozen republican house members signed a bipartisan letter that says let's look at all kinds of tax rates, not just the deduction, but tax rates in relation to other spending. so you've got republicans jumping ship on both sides. >> that's exactly right. the speaker is going to have to make a critical choice, because the lines are being drawn in the sand right now here on capitol hill. you have the conservatives who are being booted off the committee. they're very angry with the speaker. they're not going to move at all on tax rates. but you've got a lot of moderates in the republican conference from th
as this fiscal cliff negotiations continues, they think boehner is trying to warn conservatives about going against any kind of deal he cuts with the white house. so as a warning, boehner is saying i'm going to boot you off your committee if you go against something i do. a lot of conservatives don't like it when he plays hardball. they're going to continue to fight back just like senator demint is doing right now. >> but he's also going to lose some votes on the moderate side. a couple...
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the obama administration is fully prepared to go off that fiscal cliff if republicans don't agree to tax hikes on the wealthiest americans. let's bring in congressional correspondent kate bolduan. the white house won't budge on taxes. the republican led house takes a break. can you make sense of this for us? >> i think that's a little above any of our pay grade trying to make sense of it all other than it seems that it's one more fight that we've seen over and over again and we are seeing once again it play out almost as it appears slow motion, carol. you mention the call between speaker boehner and president obama. they may have talked. no read out of the call per se. we are still a long way away from a deal that is for sure. why? because at its most basic neither side is giving on their primary position. president obama continues to insist over and over again any deal must include a tax rate increase on the top 2% of wage earners which republicans just as firmly insist is a nonstarter. today the president is going to continue his public pressure campaign according to the white hous
the obama administration is fully prepared to go off that fiscal cliff if republicans don't agree to tax hikes on the wealthiest americans. let's bring in congressional correspondent kate bolduan. the white house won't budge on taxes. the republican led house takes a break. can you make sense of this for us? >> i think that's a little above any of our pay grade trying to make sense of it all other than it seems that it's one more fight that we've seen over and over again and we are seeing...
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cliff deal. the first read team is asking the question how big of a deal will we see? governor christie meets with president obama this time at the white house, and it is just one of the things we thought you should know. be sure to check out our "news nation" tumblr page. you find behind the scenes pictures, and thank you for checking it out and liking our pictures. ♪ ♪ [ male announcer ] campbell's green bean casserole. it's amazing what soup can do we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. [ man thinking ] oh, this gas. those antacids aren't working. oh no, not that, not here! [ male announcer ] antacids
cliff deal. the first read team is asking the question how big of a deal will we see? governor christie meets with president obama this time at the white house, and it is just one of the things we thought you should know. be sure to check out our "news nation" tumblr page. you find behind the scenes pictures, and thank you for checking it out and liking our pictures. ♪ ♪ [ male announcer ] campbell's green bean casserole. it's amazing what soup can do we believe the more you know,...
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. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff. >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy -- remember, it's only 2%. >> so the white house is >> now we need a response from the white house. we can't sit here and negotiate with ourselves. >> house republican leader eric cantor also seemed to forget that the white house presented a specific plan in these negotiations. >> where are the specifics? where are the discussions? nothing is going on. meanwhile, the people of this country are the ones that suffer. so we ask the president, sit down with us, be serious about the specifics of spending so we can stop the wasteful spending in washington and finally address the problem. >> john boehner appears to have the same form of anesthesia mitt romney was suffering from on the campaign trail. he tells supporters, if our offer is not acceptable to the president, then he has an obligation to show leadership by presenting a credible plan of his own that can pass
. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff. >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy -- remember, it's only 2%. >> so the white house is >> now we need a response from the white house. we can't sit here and negotiate with ourselves. >> house republican leader eric cantor also seemed to forget that the white house presented a...
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with the fiscal cliff pr campaign. he is meeting with a middle class family in northern virginia, and the white house says the president is going to talk about his efforts to extend tax cuts for the middle class as part of this debt deal. well, some economists are predicting that the country will go into another recession if this debt deal is not reached. any deal that the lawmakers and white house come up with is also going to have a major impact, so joining us to talk a little bit about it, peter morrissey. he is a business professor at the university of maryland, and our own chief business xhnt ali velshi. you wrote something, an article here, predicting that these tax hikes, the spending cuts likely in the debt deal, could push unemployment, you believe, from 7.9% all the way to 10%. how so? >> well, simply it will cut spending in the economy. the wealthy will have less money to spend, but the government will likely be spending a lot less money as well because the republicans are going to want spending cuts. you co
with the fiscal cliff pr campaign. he is meeting with a middle class family in northern virginia, and the white house says the president is going to talk about his efforts to extend tax cuts for the middle class as part of this debt deal. well, some economists are predicting that the country will go into another recession if this debt deal is not reached. any deal that the lawmakers and white house come up with is also going to have a major impact, so joining us to talk a little bit about it,...
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this fiscal cliff thing, the problem with the republicans, larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate is because, come the fiscal cliff moment, that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> speaking as a reagan conservative, i must say i rather agree with you. probably shouldn't. but i do. i think divided government is very difficult. and there's some principles that speaker boehner is fighting for, with which i actually agree. but i think politically, the risk here for the gop, is they've become the party of rich people. and they give up the middle-class to the democrats. and i think you saw some of that in the presidential election. i don't think that's their intent. i think their tax reform intent is quite sound. but the way this is playing out, i think that's a big risk for them. >> they're becoming the party of rich, white, older men, is
this fiscal cliff thing, the problem with the republicans, larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate is because, come the fiscal cliff moment, that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> speaking as a reagan conservative, i must say i rather...
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house is, in fact, ready to go straight over the fiscal cliff. major garrett is at the white house. major, good morning. >> reporter: good morning, norah and charlie. later on this afternoon the president will travel across the potomac river to northern virginia to meet a middle-class family to make the self-evident point if the there is a deal and taxes are raised by about $2,000 they'll be happier and spend more money. that's the p.r. side of this. much more importantly, for the deal, the two key players yesterday picked up the phone. the phone call relatively brief and substantive, though details remain illusive. shorter, sources say. the last week 28-minute conversation described then as curt direct and frank. no one with this call used such barbed words and occurred before treasury secretary tim geithner laid down this harsh fiscal cliff marker. >> if the administration, are they prepared to go over the fiscal cliff? >> absolutely. no prospect or agreement that doesn't involve those rates going on on the top 2%. remember, only 2%. >> reporte
house is, in fact, ready to go straight over the fiscal cliff. major garrett is at the white house. major, good morning. >> reporter: good morning, norah and charlie. later on this afternoon the president will travel across the potomac river to northern virginia to meet a middle-class family to make the self-evident point if the there is a deal and taxes are raised by about $2,000 they'll be happier and spend more money. that's the p.r. side of this. much more importantly, for the deal,...
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. >> stephanie: i love that geithner and the white house signalling that we'll go off the cliff if we have to. i posted something from the l.a. times. fiscal cliff let's take the plunge in the l.a. times. he said the u.s. deficit and debt will fall, social security will go on unharmed and we'll go back to tax rates that were better than the current ones. what do you think? >> i certainly don't want something that will put us into a recession. that's more republican thinking. but i think ultimately pugh has a pole saying 53% of the american people will blame republicans, to which i can only imagine republicans saying, oh we're finally ahead in a poll. boner is like a slug there is a bright orange trail of cheat toe dust and bronzer leading from his office. >> stephanie: okay. here you go. >> so many people are going to part-time work and being hurt. everyone i know is already seeing cutbacks, and the economy is going to be disastrous and only going to get worse under obama. >> stephanie: by the way that was dexter von frisch? >> it was. >> stephanie: he just screams at ann coulters voi
. >> stephanie: i love that geithner and the white house signalling that we'll go off the cliff if we have to. i posted something from the l.a. times. fiscal cliff let's take the plunge in the l.a. times. he said the u.s. deficit and debt will fall, social security will go on unharmed and we'll go back to tax rates that were better than the current ones. what do you think? >> i certainly don't want something that will put us into a recession. that's more republican thinking. but i...